Economy
AfDB Injects $60m into Jigawa Wheat Cultivation Initiative
By Adedapo Adesanya
The African Development Bank (AfDB) has expressed its readiness to provide a $60 million facility to the Jigawa State Government for the expansion of wheat cultivation in the state.
This was disclosed by the Director of Agriculture and Agro-Industry at AfDB, Mr Martin Fregene, during a courtesy visit to Governor Umar Namadi at his office in Dutse.
Mr Fregene, who expressed happiness over the rapid achievements of Mr Namadi within a few months in office, especially on agriculture, said that the bank would partner with the state to revolutionise agriculture in the North-West.
He, however, suggested that Jigawa should prepare to go for 100,000 hectares in the next dry season and 250,000 hectares the following season, against the current 40,000 hectares being cultivated.
Mr Fregene said that the bank would accompany Jigawa all the way to achieve irrigation activities; thereby, increasing access to water in the land, improving growers’ skills, employing more youth and creating more value for wheat growers.
On his part, Mr Akinwumi Adesina, AfBD’s President, announced the AfDB’s commitment to transform agriculture for the betterment of everybody in Africa.
Mr Adesina, represented by Mr Olalekun Williams, Special Envoy to the AfDB’s President, recalled that in January 2023, 34 Heads of Government in Africa met in Dakar, Senegal, to discuss how Africa could feed itself.
“Nearly all African countries import food that can be grown in Africa and the amount of foreign exchange used to import food can be diverted to improve our agriculture.
“So, the main objective of the Feed Africa Initiative is to enable Africa to feed itself; and to feed itself in such a way that is efficient, sustainable and is competitive.
“In that sense, Nigeria as a member country developed what is called Nigeria Country Food and Agriculture Delivery Compact.’’
He said each country that was represented in Dakar prepared its country compact to meet its food security targets.
Mr Adesina said that the compact focused on five important staples in each country, adding they should be produced to substitute for import.
“The staples selected by Nigeria are wheat, rice, maize, cassava and animal husbandry.’’
The AfDB’s president, however, expressed happiness about the ongoing agricultural revolution taking place in Jigawa.
He said that if Jigawa was contributing about 40 per cent of the nation’s wheat production in 2024, it meant Jigawa would be in the forefront of contributing to the Nigeria Food Agriculture Delivery Compact.
“We would like to use Jigawa as a demonstration of what is possible in Nigeria with purposeful leadership and support from the government to the teeming farmers as seen.
“The essence of the compact is to mobilise political, financial and technical support for the five staples,” he explained.
Mr Adesina said that if Jigawa could demonstrate that wheat was growable in Nigeria, then the bank could extend the same model to other crops like rice and maize which were seriously needed in the country.
On his part, Mr Namadi thanked the management of AfDB for its intervention programme in many areas of development in Africa, especially in agriculture for initiating programmes geared toward addressing the food crisis in the continent.
Namadi noted that apart from Nigeria’s green revolution programme in the 1980s, there was never a food-solving problem like the one introduced by Mr Adesina when he was Nigeria’s agriculture minister.
The governor said that most of the developmental projects coming up on agriculture were a result of Mr Adesina’s legacy of the rice revolution.
He reassured the delegate that the state government was committed to harnessing the potential of agriculture in the state.
By Adedapo Adesanya
The International Monetary Fund (IMF) has removed Nigeria from its Total IMF Credit Outstanding list after repaying the $3.4 billion pandemic loan.
The global lender provided funding support to some countries after the COVID-19 pandemic in 2020, which crumbled the global economic and made some nations struggling to survive.
Nigeria was among the countries that relied on the IMF for funding support and it has repaid the loan, prompting the lender to remove its name from the debtors’ list.
The journey towards clearing this debt began in earnest in 2023, when the nation’s IMF debt stood at $1.61 billion, reaching $472 million by January 2025.
Commenting on the development, the Senior Special Assistant to the President on Digital Engagement and Strategy, Mr O’tega Ogra, described the clearance as a “strategic reset” for the nation’s financial policy.
He emphasized that this achievement is a reflection of the administration’s focus on fiscal discipline, long-term sustainability, and economic resilience.
“This milestone signals a new chapter for Nigeria, one marked by clarity, capacity, and fiscal responsibility.
“We are no longer defined by aid dependence but by our capacity to stand tall and manage our financial future on our terms,” Mr Ogra stated.
While Nigeria’s exit from the IMF’s debtor list is a symbolic moment of progress, Mr Ogra made it clear that the country would continue to engage with the IMF and other international partners, but now on a more proactive, strategic basis.
“Global partnerships remain essential, but we approach them from a place of strength, not dependency,” he added.
By Adedapo Adesanya
Nigeria has called for deeper collaboration with Norway in the areas of debt restructuring, tax transparency, and climate finance, as part of its broader strategy to unlock sustainable development opportunities through global partnerships.
According to a statement, this call was made by the Minister of State for Finance, Mrs Doris Uzoka-Anite, during a high-level bilateral meeting with the Norwegian Deputy Minister of International Development, Ms Stine Renate Håheim, held on the sidelines of the recent 2025 United Nations Meetings in New York.
Mrs Uzoka-Anite emphasized that Nigeria is prioritizing partnerships that can accelerate its economic reform agenda and climate resilience goals.
“We are actively seeking partners who understand the urgency of our development needs, especially in areas such as climate finance, debt restructuring, and tax cooperation,” she said.
She spoke on Nigeria’s interest in NORAD’s Energy for Development platform, which supports sustainable energy solutions across developing economies.
The Minister noted that Nigeria is eager to tap into the initiative to fast-track energy access and reduce emissions.
“Our energy transition plan aligns with global climate goals, and we believe collaboration under NORAD’s platform will be instrumental in delivering clean, affordable energy to millions of Nigerians,” she added.
The meeting also spotlighted the need for greater transparency in international tax cooperation frameworks.
“Improving tax transparency is critical to domestic resource mobilization. We welcome Norway’s support in helping us strengthen systems that fight illicit financial flows,” Mrs Uzoka-Anite stressed.
Ms Håheim acknowledged Nigeria’s regional importance and expressed readiness to explore areas of mutual interest, particularly in promoting inclusive growth and green development.
The statement added that the bilateral engagement reflects Nigeria’s diplomatic outreach at the 2025 UN Meetings, reinforcing its drive to forge strategic alliances that enhance governance, unlock financing for development, and boost resilience in the face of current global economic challenges.
By Modupe Gbadeyanka
Stakeholders have projected that the maritime law book authored by Mrs Mfon Ekong Usoro will drive judicial and economic reforms in Nigeria.
At the presentation of the book titled International Trade and Carriage of Goods by Sea: Text, Cases, and Materials in Lagos on Tuesday, the piece was described as a timely intervention to strengthen the country’s judicial processes and economic development, particularly in the area of international trade.
The book, which integrates both local and international legal standards, aims to serve as a reference point for legal professionals, regulators, financial institutions and participants in the trade and shipping industries.
The Chief Justice of Nigeria (CJN), Mrs Kudirat Kekere-Ekun, who wrote the forward, said the publication would serve as a foundational text that would enhance the judiciary’s capacity to resolve disputes related to trade and shipping efficiently.
She said the book presents a practical approach to interpreting legal issues around carriage contracts, cargo liabilities and dispute resolution under both local and international frameworks.
“By simplifying complex concepts through case studies, diagrams and statutory references, the book will strengthen the quality of judicial decisions and enhance legal education in this essential sector.
“This text is exactly what our legal system needs. It commands respect for local precedents while drawing on legal judgments from other jurisdictions, guiding our courts to a uniform approach and giving our practitioners the confidence to negotiate, mitigate and arbitrate across borders,” she said.
On his part, the president of the Dangote Group, Mr Aliko Dangote, described the book as essential for businesses operating in global trade.
“This is the kind of resource that improves certainty in commercial transactions and boosts confidence among business operators,” he stated, praising the author’s contribution to trade and legal practice in Nigeria.
The book reviewer, Mr Adedolapo Akinrele (SAN), described the text as a unique, structured resource, citing over 200 cases, extensive chapters and global conventions to illustrate key concepts in maritime and international trade law.
He emphasised its practicality and relevance to both seasoned professionals and new entrants in the legal and commercial sectors.
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